Konferenzbeitrag
Contagious Policies: An Analysis of Spatial Interactions Among Countries' Capital Account Policies
Countries' capital account policies might be contagious in the sense that domestic policies are driven by other countries' policies. A model of strategic interactions is developed to show that countries' best response to policy changes elsewhere consists in imitating this policy. Using a spatial econometric model, the hypothesis of policy interactions is tested in a large panel data set. The evidence shows that capital account policies are contemporaneously correlated across countries. Concerning fundamentals, the move to a fixed exchange rate regime and an increase in real world interest rates are correlated with the imposition of capital account restrictions.
- Sprache
-
Englisch
- Erschienen in
-
Series: Proceedings of the German Development Economics Conference, Hannover 2010 ; No. 41
- Klassifikation
-
Wirtschaft
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
International Investment; Long-term Capital Movements
International Policy Coordination and Transmission
- Thema
-
Capital Controls
Strategic Interaction
Panel Data Analysis
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Steiner, Andreas
- Ereignis
-
Veröffentlichung
- (wer)
-
Verein für Socialpolitik, Ausschuss für Entwicklungsländer
- (wo)
-
Göttingen
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Konferenzbeitrag
Beteiligte
- Steiner, Andreas
- Verein für Socialpolitik, Ausschuss für Entwicklungsländer
Entstanden
- 2010
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